EEMO vs. AVES
EEMO (Invesco S&P Emerging Markets Momentum ETF) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - EEMO is a Momentum fund tracking the S&P Momentum Emerging Plus LargeMidCap Index, while AVES is a Emerging Markets Equities fund actively managed by Avantis. EEMO is passively managed, while AVES is actively managed. Over the past 3 years, EEMO returned 23.13%/yr vs 19.21%/yr for AVES. Their correlation of 0.82 suggests significant overlap in exposure. EEMO charges 0.31%/yr vs 0.36%/yr for AVES.
Performance
EEMO vs. AVES - Performance Comparison
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Returns By Period
In the year-to-date period, EEMO achieves a 35.52% return, which is significantly higher than AVES's 12.71% return.
EEMO
- 1D
- -8.31%
- 1M
- 6.72%
- YTD
- 35.52%
- 6M
- 35.05%
- 1Y
- 47.55%
- 3Y*
- 23.13%
- 5Y*
- 6.20%
- 10Y*
- 8.71%
AVES
- 1D
- -4.26%
- 1M
- -0.95%
- YTD
- 12.71%
- 6M
- 12.82%
- 1Y
- 29.26%
- 3Y*
- 19.21%
- 5Y*
- —
- 10Y*
- —
EEMO vs. AVES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EEMO Invesco S&P Emerging Markets Momentum ETF | 35.52% | 10.99% | 9.88% | 13.90% | -18.73% | 1.75% |
AVES Avantis Emerging Markets Value ETF | 12.71% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
Correlation
The correlation between EEMO and AVES is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.82 |
The correlation between EEMO and AVES has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
EEMO vs. AVES — Risk / Return Rank
EEMO
AVES
EEMO vs. AVES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Momentum ETF (EEMO) and Avantis Emerging Markets Value ETF (AVES). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EEMO | AVES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.30 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 2.28 | +0.96 |
| Martin ratioReturn relative to average drawdown | 11.80 | 8.21 | +3.59 |
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Drawdowns
EEMO vs. AVES - Drawdown Comparison
The maximum EEMO drawdown since its inception was -48.47%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for EEMO and AVES.
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Drawdown Indicators
| EEMO | AVES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.47% | -27.40% | -21.07% |
Max Drawdown (1Y)Largest decline over 1 year | -14.75% | -12.90% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -26.06% | -18.50% | -7.56% |
Max Drawdown (5Y)Largest decline over 5 years | -34.03% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.57% | — | — |
Current DrawdownCurrent decline from peak | -8.31% | -5.18% | -3.13% |
Average DrawdownAverage peak-to-trough decline | -20.11% | -7.67% | -12.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 3.57% | +0.47% |
Volatility
EEMO vs. AVES - Volatility Comparison
Invesco S&P Emerging Markets Momentum ETF (EEMO) has a higher volatility of 20.47% compared to Avantis Emerging Markets Value ETF (AVES) at 9.99%. This indicates that EEMO's price experiences larger fluctuations and is considered to be riskier than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEMO | AVES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.47% | 9.99% | +10.48% |
Volatility (6M)Calculated over the trailing 6-month period | 28.78% | 16.81% | +11.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.30% | 19.01% | +11.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.93% | 17.36% | +3.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.33% | 17.36% | +4.97% |
EEMO vs. AVES - Expense Ratio Comparison
EEMO has a 0.31% expense ratio, which is lower than AVES's 0.36% expense ratio.
Dividends
EEMO vs. AVES - Dividend Comparison
EEMO's dividend yield for the trailing twelve months is around 1.67%, less than AVES's 3.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 3.62% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EEMO Invesco S&P Emerging Markets Momentum ETF | 1.67% | 2.31% | 2.57% | 3.65% | 3.82% | 1.51% | 1.53% | 2.13% | 13.10% | 5.13% | 1.55% | 2.92% |
Frequently Asked Questions
EEMO and AVES have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEMO has higher volatility (20.47%) compared to AVES (9.99%). In terms of maximum drawdown, EEMO dropped -48.47% vs AVES's -27.40%.
On 3-year performance, EEMO leads with 23.13% vs 19.21% for AVES. On fees, EEMO is cheaper at 0.31% per year. On volatility, AVES has been the lower-risk option at 9.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EEMO has performed better with a 23.13% return vs 19.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EEMO is cheaper with a 0.31% expense ratio, compared with 0.36% for AVES.
AVES has the higher dividend yield at 3.62%, compared with 1.67% for EEMO.
EEMO is categorized as Momentum, while AVES is Emerging Markets Equities. They also come from different issuers: Invesco and Avantis. Their fees differ too: 0.31% for EEMO and 0.36% for AVES.
EEMO currently has the higher Sharpe Ratio (1.58 vs 1.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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